URL: https://democracy.croydon.gov.uk/ieDecisionDetails.aspx?ID=2547

Decision Maker: Executive Mayor

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: The report will notify the Executive Mayor of the funding available via the 2025/26 Uk Shared Prosperity Programme.   Approval will be sought for the projects associated with funding. These projects will align with the criteria and timeline of the funding and the Executive Mayors Business Plan.  

Content: The report will notify the Executive Mayor of the funding available via the 2025/26 Uk Shared Prosperity Programme.   Approval will be sought for the projects associated with funding. These projects will align with the criteria and timeline of the funding and the Executive Mayors Business Plan.   For the reasons detailed in the report and appendices, the Executive Mayor AGREED to:   2.1Note the UK Shared Prosperity Fund (UKSPF) Allocations.   2.2Note and authorise the list of potential projects as outlined in Appendix 2 to be funded from the Council’s allocation of UKSPF.   2.3Delegate authority to the Corporate Director of Sustainable Communities, Regeneration & Economic Recovery to enter into any relevant funding agreement with the GLA, in consultation with the Director of Legal Services and Section 151 Officer.   2.4Authorise use of the UKSPF 4% administration allocation to support the productive delivery and administration of the fund.   2.5Note the implementation of projects will be subject to the Council’s assurance framework, including the Capital Board and approved by the Corporate Director for Sustainable Communities, Regeneration and Economic Recovery in consultation with the Executive Mayor, S151 Officer and the Corporate Management Team.   The recommendations of this report have been made in line with the criteria and timelines of the UK Shared Prosperity Funding.   Projects related to the funding have been chosen as they align with the Croydon Growth Plan and the London Growth Plan.   Alternative options to submitting a funding proposal were considered, these included:   -       Not submitting an investment proposal This was rejected as Croydon would not receive any UKSPF funding and so would not realise any opportunity for proactive regeneration and investment for the borough.   -       Alternative Projects Alternative projects were considered; however, the chosen projects were identified due to the limited funding available, the importance of timing, deliverability and impact on the borough. Consultation with partners supported the priorities of the successful projects and the chosen projects have received approval from the Executive Mayor.  

Date of Decision: August 14, 2025